What is the minimum franchise tax?
Minimum franchise tax is the amount you must pay the first quarter of each accounting period whether the corporation is active, operates at a loss, or does not do business. The current minimum franchise tax is $800. For new corporations that qualify or incorporate with the California Secretary of State, the tax is measured based on their income for the year and subject to estimate requirements. For subsequent years, the minimum franchise tax $800.
Did you find this article helpful?
Haven't found what you're looking for, send us an email